Developer Bart Blatstein unveiled the preliminary plans on Monday evening for the vacant lot on the corner of Broad Street and Washington Avenue. According to the Passyunk Post, Blatstein presented the plans to local residents at the Hawthorne Cultural Center.
The project will consist of 210,000 square feet of retail space, which is expected to include a grocery store, restaurants and a bike shop. The Passyunk Post also reported that retail jobs will go to the residents in the surrounding community first. Two residential towers will be placed above the retail space, which will total in about 33 stories. It is estimated that each tower could hold 500-800 units. Most of the units will consist of studio/1 bedroom with 2 bedroom options offered as well. Rent is estimated to be in the mid to high teens. The residential units will have access to a private terrace, dog park and a walking track.
Blatstein answered questions from concerned residents about parking. He explained that each residential unit will be provided with one parking space, but is hoping to attract a demographic that mostly bikes or walks. The project’s close proximity to the Broad Street Line and Center City is also an increased incentive.
The project is expected to break ground before June 2015.